United American Bank (OTCBB: UABK), reported total assets of $264.9 million at September 30, 2011 as compared to $343.3 million at September 30, 2010. The bank finished fiscal 2010 with total assets of $316.2 million.
United American Bank (UAB) reported total loans outstanding at September 30, 2011 of $218.6 million, as compared to $277.8 million reported at the end of the third quarter of the prior year. Loans outstanding at December 31, 2010 were $261.4 million.
The bank reported total deposits of $254.6 million as of September 30, 2011, compared to total deposits of $314.8 at September 30, 2010. Total deposits at December 31, 2010 were $300.7 million.
UAB reported a net loss for the third quarter of $687,187 as compared to a net loss of $1,148,510 for the third quarter of the prior year, and a loss of $14.2 million for the fourth quarter of 2010. The provision for loan loss was $600,000, and $1,500,000 for the third quarters ended September 30, 2011 and 2010, respectively.New $10 Million Capital Investment UAB and ATBancorp of Dubuque, Iowa, announced on October 31, 2011, the completion of ATBancorp’s initial $10.0 million investment in UAB’s capital stock. The transaction received regulatory approval from the Federal Reserve Board and California Department of Financial Institutions. In addition, the United States Department of the Treasury, as a shareholder of UAB, voted to approve the transaction. With completion of the initial investment, UAB’s capital ratios qualify as “well capitalized” as calculated under customary bank regulatory standards. UAB’s capital had been diminished in recent years by the increase in non-performing loans resulting from poor economic conditions in the hard-hit San Francisco-area commercial real estate market. UAB President and CEO John Schrup stated, “We at United American Bank are pleased that ATBancorp has provided the capital to stabilize the bank and has committed its depth of resources and expertise to help us build a bright, new future along with the businesses and communities we serve.”
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV